Developer 'activating master plan' for Concord site

THOMPSON — The developer of a proposed $600 million resort at the Concord has been buying land off Route 17 around Exit 106 for a future gateway to the resort.

Victor Whitman

THOMPSON — The developer of a proposed $600 million resort at the Concord has been buying land off Route 17 around Exit 106 for a future gateway to the resort.

Kansas City-based Entertainment Properties Trust purchased two parcels totaling 16.9 acres for $1.45 million near Joyland Road from two land trusts that jointly owned the properties, according to county property records. The land is next to the Nachlai Emunah Bungalows.

EPT also paid $500,000 for 46.2 acres owned by two individuals. That long rectangular parcel is connected to the recently purchased property off Route 17 and extends back toward land that EPT owns off Joyland Road. The deeds were transferred on Nov. 1.

"It is really just activating the master plan," EPT's spokesman Brian Moriarty said. "As we continue to develop it, there may be opportunities like that where we need to acquire additional property."

EPT's project executive, Tim Lies, said the land will be used for the main entrance and boulevard. He said a road off the exit will go through the woods and reach a straight, tree-lined split boulevard leading to the resort.

"It is a significant purchase and it just proves they are moving forward," Supervisor Tony Cellini said. "That property is going to encompass the entrance to their property."

Cellini doubted, however, that EPT and their partner, Empire Resorts, would begin building the resort until a statewide referendum next year on legalized gambling.

"I think you will see some land preparation over there," Cellini said.

In 2010, EPT acquired 1,538 acres in a legal settlement with Westchester Developer Louis Cappelli's Concord Associates. Concord Associates still owns the original hotel site and plans a competing resort project.

In August, EPT officials said construction could begin by early next year and open the first phase, a hotel and racino, by late 2014. Thompson's board recently extended the deadline to Dec. 18 for filing the final generic and phase one environmental impact statements. EPT asked for six more days to complete the studies.

Monticello Casino & Raceway owner Empire Resorts will lease 200 acres from EPT and build a 248-room hotel, a racino with 2,150 video lottery terminals and a harness track. Empire's piece of the project would cost about $300 million.

EPT, at the same time, plans to improve the Monster Golf Course and add complementary restaurants and entertainment venues, like a multiplex theater and bowling alley. It also plans a $150 million indoor water park with a hotel. Later phases could include potentially more hotels, restaurants and mixed housing.

Empire Resorts Executive Vice President Charlie Degliomini said the companies have no intention of waiting a full year, or longer, for the issue of legalized gambling to be settled.

"We continue to make significant progress with the Town of Thompson and are not going to slow down due to anything related to legalization," Degliomini said. "We want to build as soon as possible."